U.S. equity indexes also reached record highs as investors bet tax cuts promised by President Donald Trump would boost the economy.

Trump said on Monday the United States will be “tweaking” its trade relationship with Canada, stopping short of calling for a major realignment in a development likely to please visiting Canadian Prime Minister Justin Trudeau.

“I think it (the visit) went very well for Canada,” said John Kinsey, portfolio manager at Caldwell Securities.

“We need the U.S. and to a lesser extent they do need us.”

Canada sends 75 percent of its exports to the United States and investors worry that a proposed renegotiation of the North American Free Trade Agreement would hurt Canada’s economy.

The Toronto Stock Exchange’s S&P/TSX composite index ended up 27.46 points, or 0.17 percent, at 15,756.58, a new record close.

The index has rallied more than 36 percent from a three-year trough in January last year.

Some of the most influential movers on the index were banks and insurance companies as bond yields climbed ahead of testimony this week by U.S. Federal Reserve Chair Janet Yellen.